Dear User Advisorymandi.com or Pro advisory Championship (PAC) having purpose to provide you analytical skills of numbers of SEBI registered Research Analysts and Investment Advisers to choose best one among them for your hard earned investments. We Advisorymandi.com or Pro advisory Championship (PAC) not promote any adviser or provide any advise through Call, SMS and Social media platforms or give assurance of any return.

Change Mobile Number

Update Profile

Oil near one-week high on weak dollar, equities rally

LONDON/TOKYO - Oil prices stood near a one-week high on Friday as global equities headed for their biggest weekly gain in six years as the dollar slipped to a three-year low.

U.S. West Texas Intermediate crude for March delivery was down 20 cents at $61.15 a barrel by 1410 GMT, having touched a one-week high of $61.89. Activity was subdued, with many Asian markets closed for the Lunar New Year holiday.

The U.S. crude contract has risen by about 3 percent on the week after losing nearly 10 percent last week.

London Brent crude was up 5 cents at $64.38. Brent is up nearly 3 percent for the week after a decline of more than 8 percent last week.

"Oil is getting support from a rebound in global stock markets and a weak dollar, but the upside is limited due to a projection for rising U.S. production," said Tomomichi Akuta, senior economist at Mitsubishi UFJ Research and Consulting in Tokyo.

The dollar slipped to a three-year low against a basket of currencies on Friday but later regained some ground to trade 0.5 percent up, limiting gains in the oil market. A weaker dollar often boosts oil and other dollar-denominated commodities. [USD/]

World shares were set to post their best week of gains in six years after two consecutive weeks in the red.

Also supporting oil prices was a statement from the United Arab Emirates energy minister late on Thursday saying oil producers led by Saudi Arabia and Russia aimed to draft an agreement on a long-term alliance by the end of the year.

OPEC and some non-OPEC producers including Russia have been restraining production by 1.8 million barrels per day (bpd) to prop up prices. The arrangement expires at the end of 2018.

However, surging U.S. production is offsetting those efforts. U.S. crude output hit a record 10.27 million bpd last week, the Energy Information Administration said on Wednesday, making it a bigger producer than Saudi Arabia.

"Drilling activity in the U.S. continues to pick up ... Adding to this, producers appear to be more efficient than they were mid last year," ING said in a note, adding that rising U.S. supplies and the liquidation of speculative longs were likely to keep oil prices under pressure.

LIVE ADVISORY

TESTIMONIALS

Samiul Shanti

Pro advisory gives excellent stocks and future tips.It is a very good platform for new traders like ... Read More

Samiul Shanti

Pro advisory gives excellent stocks and future tips.It is a very good platform for new traders like me and provides exact entry and exit point.As I am a working professional I can't monitor the market for whole day, so I don't trade regularly.But I made profit in nifty future segment without monitoring the market.Thanks for this unique concept and good effort.
Regards
Samiul Shanti.

Sandeep Paliwal

Dear sir/madam,
This is Sandeep Paliwal from Delhi. I want to thank the team of ADVISORY MANDI that ... Read More

Sandeep Paliwal

Dear sir/madam,
This is Sandeep Paliwal from Delhi. I want to thank the team of ADVISORY MANDI that help me to earn profit in this market. I have started with 25000 and double my money in a month and half. Intraday day tips with stop loss given was beneficial for me.
Thanks

Dev Jadeja

I am very glad to inform that i like this app it's very use full. This app give guideline what to bu... Read More

Dev Jadeja

I am very glad to inform that i like this app it's very use full. This app give guideline what to buy and sell in stock so i earn profit from it .

Chandrakant Adhav

Nandan Mohanty

"Sir,
i have been following PAC since last 1 month. It is quite beneficial for me to conduct... Read More

Nandan Mohanty

"Sir,
i have been following PAC since last 1 month. It is quite beneficial for me to conduct Intraday Treading .The valuable suggestions given by expert advisers without any charge is a pleasant experience for common men.I wish great success for PAC .
Thnak you
Nandan Mohanty
"

Experts Pick

AdvisoryMandi

JIST OF OPEC MONTHLY REPORT:NON OPEC PRODUCTION ON RISING SPREE

With 14 countries, OPEC is an intergovernmental organisation, founded in 1960 in Bagdad. OPEC stated...

AdvisoryMandi

Moumita Samanta

JIST OF OPEC MONTHLY REPORT:NON OPEC PRODUCTION ON RISING SPREE

With 14 countries, OPEC is an intergovernmental organisation, founded in 1960 in Bagdad. OPEC stated...

AdvisoryMandi

Moumita Samanta

JIST OF OPEC MONTHLY REPORT:NON OPEC PRODUCTION ON RISING SPREE

With 14 countries, OPEC is an intergovernmental organisation, founded in 1960 in Bagdad. OPEC stated...

OPINION POLL

Will end of FY 2017-18, see Nifty at 11K mark?

YES

NO

Total Votes: 1485

Enter email-id to share this news

Important Information

Please fill the required Disclosure/Disclaimer.

Disclaimer

The information and material contained in these pages and the terms, conditions, and descriptions that appear are subject to change without prior notice. Investments in equity shares, debentures, commodities, etc, are not obligations of or guaranteed by the ADVISORYMANDI , and are subject to investment risks.....More